SRS Distribution acquiring Gannon Roofing Supply
GRS operates three branches in Iowa, serving home builders and contractors.
SRS Distribution (SRS) announced that is acquiring Gannon Roofing Supply (GRS).
Based in Des Moines, Iowa, GRS is an independently-owned distributor of residential and commercial roofing products and accessories.
This moves marks SRS Distribution’s entry into Iowa. GRS serves home builders, contractors and remodelers. Terms of the deal were not disclosed.
“We could not be more proud to welcome the outstanding employees at Gannon Roofing Supply to the SRS family,” said Dan Tinker, president and CEO of SRS Distribution.
Tinker also noted that SRS was more than familiar with GRS.
“We have known the Gannon family for nearly 25 years and have nothing but the utmost respect for the business they have built. GRS is one of the finest independent distributors in the country and we are honored to be joining forces as we continue to expand our presence in the Midwest,” he said.
GRS’s senior management team – Dan Frankl, Dan Gannon, and Chad Thomas – will continue to lead the division following the completion of the acquisition. SRS did not provide a timetable as to when the acquisition would be finalized.
Frankl, president of GRS, said, “We are thrilled to be partnering with SRS and look forward to what we can accomplish together. Over its 40-plus year history, GRS has earned a reputation for offering quality materials with superior customer service. Leveraging the resources of SRS, we are eager to embark on the next phase of growth for the company and excited about the ability to further enhance our customers’ experience, while providing new opportunities for our employees for years to come.”
This deal is SRS Distribution’s first acquisition of 2020. In the past six months, SRS acquired Roofers Supply in Utah, Schultz Roofing Supply in Michigan, and Travis Roofing Supply in Austin, Texas. Combined, the three deals brought more than 30 additional branches on board for SRS.
In the second half of 2019, SRS also opened four greenfield branches in Dayton, Ohio; Fayetteville, N.C.; Pittsburgh, Pa.; and Sun Valley, Calif.
Founded in 2008 and headquartered in McKinney, Texas, SRS is one of the fastest-growing building products distributors in the United States The company operates more than 350 locations in 44 states. SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC.
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